ICMR to increase stock market patronage through digital technology

The Institute of Capital Market Registrars (ICMR) has stated that the institute would leverage digital technology to boost information accessibility and improve retail participation in the capital market.

The President and Chairman of Council, ICMR, Oluseyi Owoturo, said the move became imperative considering the proliferation of unlawful investment outfits in the nation’s capital market and the need to protect investors from the antics of fraudsters, especially promoters of Ponzi schemes.

He said with enhanced technology, information on how to invest in the stock market, benefits and other market dynamics would be made available to both existing and potential investors.

“Even with the over four million investors in the capital market compared to 50.9 million BVN holders in the banking system, potential investors continued to fall prey to Ponzi schemes.

“There are indeed huge opportunities in repositioning the capital market by leveraging digital technology to make the market easily accessible, solve the inefficiencies impacting investor experience and improve investor confidence.”

“The time to leverage the huge potential in the Nigerian technology space to change the narrative of the capital market, create wealth for investors, and provide funding for sustainable growth is now,” Owoturo said.

He said the forthcoming yearly conference is slated for November 27, 2012, with the theme: “Reinventing the Nigerian Capital Market for Growth: The Digital Technology Approach.’

“The objective is to ensure that the new combinations of talent and technology are delivering decisive advances and value in investor experience and operational efficiency.”

“We expect digital technology to drive positive outcomes in streamlining processes, harnessing data and shaping entirely new ways of doing business.”

“It is expected that the outcome of this conference will reposition the Nigerian capital market for growth by creating a capital market that is attractive to investors and able to support the long-term investment needs across the private and public sectors of the economy.”

“We are confident that by addressing the scourge of unclaimed dividends, the need for shared market infrastructure, and the changing role of regulators, the discourse in the conference will galvanise the drive towards repositioning the Nigerian capital market for sustainable growth,” Owoturo said.